Selling my timeshare
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Original Message:
Selling my timeshare (by Michael T.):
I've done a basic research on this topic. here's the facts: 1) bought in year 2000 for approx. 30,000 2) last used 2013 3) rented out all or a portion from 2014 - 2019 - 6 years 4)selling for approx. 16,000 with first occupancy 2020 - closing will be in July or August 2018.
Question - tax deductible loss or no? What I've read is that IF you rented it out consistently (?) it may be a deduction.
Is the last 5 years plus 2019 enough of a timeframe to get by the IRS?